Wall Street markets open as strong earnings boost stocks

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Wall Street markets open as strong earnings boost stocks

- Asian stocks looked set to rise Friday after robust corporate earnings spurred a rally in U.S. shares.

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None What the front line of the U.S. Futures for Japan and Australia climbed after the S&P 500's best day since March? Results from major U.S. banks beat estimates, while chipmaker Taiwan Semiconductor Manufacturing Co. predicted a bullish year-end. Sentiment was boosted as U.S. producer prices fell this year at the slowest rate and initial jobless claims advanced

In a decline of the U.S. Treasury yield, the 10-year-rate was steady. In one corner of the U.S. short-term rates market, traders are ramping up short positions in futures on bets that the Federal Reserve will hike faster and more aggressively from 2022 amid elevated price pressures.

In China, the central bank is expected to extend key policy loans at and after Friday to continue bank liquidity and support the economy. Solid company earnings in the reporting season so far helped to ease fears that inflation will hurt growth stoked by rising energy prices and supply-chain snarls. Corporate profits have been boon to equity markets through the pandemic. At the same time, the wider debate about whether a stagflation-like backdrop looms remains unresolved.

Even though there are cost pressures and supply concerns, the other side of this is that business is strong, said Kevin Caron, senior portfolio manager from Washington Crossing Advisors. To the extent that producers can pass higher prices on to consumers - which it seems like they re able to do - we see stronger profits, which is helping to boost stocks. John Waldron joined fellow finance leaders like Morgan Stanley CEO James Gorman and Goldman Sachs Group Inc. s Brian Moynihan to predict that inflation will stick around.

Moynihan is absolutely correct in his assessment of inflation on Bloomberg Television, when he said it was not temporary. The Fed started to indicate that it s time for them to move as the path out of Covid Pandemic has grown more assured, he said.

Far where crude oil advanced and base metals soared. The latter surge was led by zinc, after European smelters became the latest casualties in the global energy crisis. A gauge of six industrial metals hit an all-time high at the London Metal Exchange.

All U.S. business inventories, University of Michigan consumer sentiment, retail sales on Friday - Friday, no U.S. business inventories nor consumer sentiment from University of Michigan - Wednesday.

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Some of the main moves on the market:

None The Bloomberg Dollar Spot Index was little changed None The Japanese yen was at 113.68 per dollar with the 113.68* price.

None The offshore yuan was at $6.4370 for the dollar of 2010.

There Interest in 10- year Treasury yields rose about three basis points to 1.51%,.

None Gold was at $1,795, with $ 1,785 for gold. 83 an ounce

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None The Out-of Work Americans Is This Job Market Turmoil Is Anything But Transitory Do.

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